Record Keeping

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Surya Prabha (Querist)
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17 May 2010 Hi Sir,
We intend to destroy the documents related old fiscal year say year ended 31st March 2000 and earlier.Will there be any issue with this from Tax and legal perspective.Can you please suggest what are the Legal guidelines regarding this.

Thanks& Regards,
Surya

Rasesh

Rasesh (Expert)
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17 May 2010 You can destroy records which are older than 8 years. However, the statutory books and share records have to be maintained throughout the life of the Company.

It is also better to keep a record/list of the records destroyed.

Surya Prabha

Surya Prabha (Querist)
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17 May 2010 Thank you Rasesh.Can u please tell us what is the provision under IT Act and Labour Law for the same?
Regards,
Surya

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